Published: March 20, 2013 at 9:39 am

Kevin Lynch Apple: There is no denying the fact that Apple Inc. (NASDAQ:AAPL) is always on the lookout for the top talent in the industry. For this reason, the Cupertino-based company will spend a lot of money acquiring start-ups with bright minds. Apple will also reach out to top executives at other tech companies. This time around, it was Adobe CTO Kevin Lynch.

Apple Inc. (NASDAQ:AAPL) is actually the smart money’s second favorite publicly traded company but hedge funds have started dumping Apple Inc. (NASDAQ:AAPL) in favor of a surprising financial stock (see which stock hedge funds are buying like crazy).

CNBC first reported the news here. This article states that Lynch will be joining Apple Inc. (NASDAQ:AAPL) as VP of Technology. While many may wonder if this was a good decision, it is safe to say that a lot of people, Lynch included, dream of working for Apple.

“Kevin Lynch, Adobe CTO, is leaving the company effective March 22 to take a position at Apple. We will not be replacing the CTO position; responsibility for technology development lies with our business unit heads under the leadership of Adobe CEO Shantanu Narayen. Bryan Lamkin, who has recently returned to Adobe, will assume responsibilities for cross company research and technology initiatives as well as Corporate Development. We wish Kevin well in this new chapter of his career.”

As most would expect, Adobe did not come across as upset or angry. After all, it is nice to see employees move on to other companies that offer better opportunity. That being said, Lynch is one of the brightest minds in the industry and no company wants to lose that.

Many are not aware of the current tension between Adobe and Apple Inc. (NASDAQ:AAPL). The same The Next Web article adds the following:

“Tension has long existed between Adobe and Apple, particularly thanks to Steve Jobs’ decision to not support Flash on Apple’s highly popular iOS devices. Apple’s move greatly accelerated open Web standards support for HTML5 video and led developers to explore relying solely on JavaScript and CSS3 for interactivity.”

Do you think Lynch made a good move joining Apple? Share your thoughts in the comment section below.

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.